Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Welbilt, MoneyGram, and Altice USA and Encourages Investors to Contact the Firm
NEW YORK, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Welbilt, Inc., MoneyGram International, Inc., and Altice USA, Inc. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Welbilt, Inc. (NYSE: WBT)
Class Period: February 24, 2017 and November 2, 2018
Lead Plaintiff Deadline: January 8, 2019
The complaint alleges that throughout the class period Welbilt made materially false and/or misleading statements and/or failed to disclose that: (i) the company lacked effective internal control over financial reporting; (ii) the company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii) as a result of the foregoing, defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
To learn more about the Welbilt class action go to: https://bespc.com/wbt/.
MoneyGram International, Inc. (NASDAQ: MGI)
Class Period: February 11, 2014 and November 8, 2018
Lead Plaintiff Deadline: January 14, 2019
The complaint alleges that throughout the class period defendants made materially false and misleading statements, and failed to disclose to investors that: (i) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (ii) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; and (iii) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program.
To learn more about the MoneyGram class action go to: http://bespc.com/mgi/.
Altice USA, Inc. (NYSE: ATUS)
Class Period: Shares pursuant to and/or traceable to Altice’s IPO on or about June 22, 2018
Lead Plaintiff Deadline: January 18, 2019
The complaint alleges that the offering documents issued pursuant to the IPO failed to disclose and/or misstated material information, including that: (1) “The Altice Way” proprietary growth model previously developed in Europe and described in the offering documents as a means to achieve superior margin performance was falsely touting Altice’s capacity to face already existing highly competitive environments and ever-changing consumer behaviors, (2) Altice was suffering from aggressively growing competition both in Europe and the United States, directly causing negative and decelerating revenue and EBITDA growth and impacting Altice’s market share, (3) specifically, Altice was suffering from mismanaged rate events, regulatory compliance and poorly managed network and customer care both in its France and Portugal segments, thereby impacting its customer base and churn rate, (4) Altice USA could not simply replicate the “The Altice Way” in the U.S. and (5) as a result, Altice USA’s offering documents were materially misleading at all relevant times.
To learn more about the Altice class action go to: http://bespc.com/atus/.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.